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Thu, Sep 9, 2010
02:34 New York
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RAPAPORT... A record number of exhibitors opened their booths on the first day of the Hong Kong Trade Development Coucil's (HKTDC) Hong Kong International Jewellery Show on Friday, hoping that the event would set a positive tone for 2010. The show, which runs through Tuesday, March 9, has been billed as a test of the extent to which the global diamond market has recovered from the recession in terms of both demand and pricing.
HKTDC reported that over 2,600 exhibitors from 44 countries and regions are attending the show, representing an increase of 12 percent from last year. In addition, the number of local Hong Kong exhibitors grew 6 percent to 1,378, with this group occupying 20 percent more space than last year. In addition, 410 Hong Kong-based exhibitors are participating in the new product zone, which is being offered for the first time.
Initial reports from the weekend indicated strong activity on the floor, as well some price resistance from buyers. Approximately 4,700 buyers representing 78 missions from 74 countries and regions are expected to attend the event. Pavilions are also in place for eight major international trade organizations, including the Antwerp World Diamond Centre (AWDC), Israel Diamond Institute (IDE), Israel Export & International Cooperation Institute, International Colored Gemstone Association (ICA), Japan Jewellery Association, Japan Jewellery Designers Association, Japan Pearl Exporters' Association and Platinum Guild International (PGI).
Among the exhibitors, Sweden is represented for the first time and group pavilions from Brazil, the Philippines and Turkey are also making their debut this year, taking their place alongside pavilions representing the Chinese mainland, Germany, India, Italy, Japan, South Korea, Malaysia, Singapore, Spain, Sri Lanka, Taiwan, Thailand and the U.S.
The show is organized by the HKTDC in association with the Hong Kong Jewellers' & Goldsmiths' Association, the Hong Kong Jewellery & Jade Manufacturers Association, the Hong Kong Jewelry Manufacturers' Association and the Diamond Federation of Hong Kong, China.
The organizers reported that Hong Kong's fine jewelry exports totaled $3.7 billion in 2009, making it the world's fourth-largest exporter of fine jewelry, behind Italy, the U.S. and India.
LH
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